Swedbank AB Sells 93,500 Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC)

Swedbank AB trimmed its holdings in shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC - Free Report) by 41.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 131,640 shares of the company's stock after selling 93,500 shares during the period. Swedbank AB owned about 0.05% of Kingsoft Cloud worth $387,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its stake in Kingsoft Cloud by 30.9% in the 3rd quarter. Blue Trust Inc. now owns 18,888 shares of the company's stock worth $56,000 after purchasing an additional 4,458 shares during the period. Profund Advisors LLC acquired a new position in Kingsoft Cloud in the 2nd quarter worth approximately $27,000. SG Americas Securities LLC acquired a new position in Kingsoft Cloud in the 3rd quarter worth approximately $47,000. Renaissance Technologies LLC boosted its stake in shares of Kingsoft Cloud by 4.0% during the 2nd quarter. Renaissance Technologies LLC now owns 460,400 shares of the company's stock valued at $1,156,000 after buying an additional 17,700 shares during the period. Finally, Headlands Technologies LLC boosted its stake in shares of Kingsoft Cloud by 313.9% during the 2nd quarter. Headlands Technologies LLC now owns 32,875 shares of the company's stock valued at $83,000 after buying an additional 24,932 shares during the period. Institutional investors and hedge funds own 13.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on KC shares. Nomura Securities raised shares of Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a research note on Friday, November 22nd. Nomura upgraded shares of Kingsoft Cloud from a "neutral" rating to a "buy" rating and raised their price target for the company from $2.30 to $6.70 in a report on Friday, November 22nd. Finally, Bank of America cut their price target on shares of Kingsoft Cloud from $3.80 to $3.20 and set a "neutral" rating on the stock in a report on Wednesday, August 21st. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Kingsoft Cloud currently has an average rating of "Buy" and an average price target of $4.62.

Kingsoft Cloud Stock Performance

KC traded up $1.04 during trading on Thursday, hitting $7.01. The stock had a trading volume of 4,542,661 shares, compared to its average volume of 1,649,726. The firm has a market cap of $1.78 billion, a PE ratio of -5.84 and a beta of 2.00. Kingsoft Cloud Holdings Limited has a 12 month low of $2.02 and a 12 month high of $7.30. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10. The company has a 50 day simple moving average of $3.68 and a 200-day simple moving average of $2.99.

Kingsoft Cloud Profile

Kingsoft Cloud Holdings Limited provides cloud services to businesses and organizations primarily in China. The company's products portfolio includes cloud products, including infrastructure as a service (IaaS) infrastructure, platform as a service (PaaS) middleware, and software as a service (SaaS) applications that primarily consist of cloud computing, network, database, big data, security, storage, and delivery solutions.